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Explain why an economy in which airlines charge different passengers different prices for the same flight will not have exchange efficiency. b. Going back to our two good (Apples, Oranges), two person (Ed, Mary) economy, suppose that at a given allocation, Ed’s MRSAO is 3 and Mary’s MRSAO is 1. Use proof by contradiction to show that this allocation is not exchange efficient. Identify a trade that will increase the utility of Ed and Mary. Explain. Show this graphically (with indifference curves).
Going back to our two good (Apples, Oranges), two person (Ed, Mary) economy, suppose that at a given allocation, Ed’s MRSAO is 3 and Mary’s MRSAO is 1. Use proof by contradiction to show that this allocation is not exchange efficient. Identify a trade that will increase the utility of Ed and Mary. Explain. Show this graphically (with indifference curves).
The slope of the total product curve measures. The Law of Diminishing Returns to a variable input (such as labor) assumes that. The ratio of total productivity to the total quantity of a variable input being used in production is
Illustrate what is the minimum product price at which the firm will operate in the short-run. Elucidate how many workers should the firm employ to maximize profits.
Explain how it is possible for one of two people in a two-good economy to have an absolute advantage in producing both goods, but trade can still benefit both people.
Explicate your rationale. Once more, with the similar organization in mind, converse the most effective way to maintain also extend a competitive benefit.
How can you justify existence of government-granted monopolies for such public utilities as local telephone service, natural gas.
Determine the quantity demanded, the quantity supplied, and the magnitude
Suppose that they are thinking of every specializing completely in the area in which they have a comparative advantage also then trading.
Assume that a 1- year discount bond (bond A) with a face value of $1,000 is currently trading at PV = $938.97, and another 2-year discount bond (bond B) with identical risk features and face value is currently trading at $834.01. Please calculate the..
Suppose the government increases spending by $30 billion and raises taxes at by $20 billion at the same time. Then, interest rates will most likely stay the same.
If the banking system has a required reserve ratio of 10%, then the money multiplier is: ______ If Bank A receives a $10,000 deposit and the reserve requirement is 10%, how much does Bank A have available to loan out? __________
In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition, monopolistic competition, collusive oligopoly.
A hearing is scheduled for your company to Current arguments that your industry has not increased its market power through this merger. Can you do this. How. Illustrate what evidence might you bring to hearing.
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